Local brownfield could become affordable housing

Guelph pursuing mixed-use development for 200 Beverley Street

Guelph, Ont., May 19, 2016–Guelph City Council supports the idea of a mixed-use commercial, residential and affordable housing development at 200 Beverley Street—the former International Malleable Iron Company (IMICo) property.

City Council has asked City staff to prepare the business terms for a mix of commercial, residential and affordable housing development and report back by the end of the year.

“Preparing the property for this kind of development aligns with Guelph’s affordable housing strategy by making good use of surplus real estate assets,” says Peter Cartwright, general manager of the City’s business development and enterprise department. “Also, with Provincial and Federal governments showing support for brownfield redevelopment, infrastructure renewal and affordable housing initiatives, we’re in a good position to take advantage of potential funding opportunities from other levels of government.”

At this point, the City is not approving a specific plan; it will prepare business terms and conditions with potential investors who have expressed an interest in developing the property.

The City is looking forward to working with the County of Wellington on this and other potential affordable housing initiatives.